Cite on the Bay

Two Hundred and Forty-Eight Homes on North Bayshore Drive

I pulled every folio the Miami-Dade County Property Appraiser holds for Cite on the Bay at 2000 N Bayshore Drive. The county returns 252 folios, of which 248 are residential dwellings and four are not. Every count, median and range on this page is built on the 248.

Heated area runs from 721 to 1,475 square feet with a median of 1,067 — a mid-size building with no very large homes in the declaration. The floorplates repeat in useful numbers: 14 homes each at 1,049, 1,107 and 1,332 square feet, and 13 at 1,047. The bed mix is 158 two-bedroom homes (63.7%), 61 one-bedroom homes (24.6%) and 29 three-bedroom homes (11.7%).

On the 2026 tax roll, assessed values run from $117,981 to $702,900, median $336,056.

Year built, storey count, architect and amenity detail are not in the county file, so this page does not carry them.

A Record Price in the Same Year as a Four-Year Low

The clearest signal in this table is the 2023-to-2025 decline, and it is well supported: three consecutive years, on 14, 11 and 8 sales, with the rate per foot moving $502, $491, $415. That is a fall of 17.3% across two years, and the direction is consistent on both the price and the rate-per-foot columns. I would call that a real softening rather than a sampling artefact.

2026 complicates it, and the complication is worth setting out rather than smoothing over. Seven qualified sales have closed and the rate per foot reads $461 — above 2025, below 2024. In that same year, on 5 April, a 1,427 sq ft home closed at $790,000, which is the highest qualified price on this building’s entire county record. So 2026 currently contains both a partial recovery in rate per foot and the building’s all-time record sale, on a sample of seven.

My honest reading: the 2023-2025 decline is established; the 2026 recovery is not. Seven sales can produce a $46 per foot move on their own. What I would not do is treat the April record as evidence about the building’s general price level — the two next-highest recorded prices, $785,000 in February 2023 and $765,000 in November 2025, are within $25,000 of it and span three different years, which suggests the top of this building’s range has been roughly stable while its middle has fallen.

40 qualified sales closed across the four years, one home in 25 each year. The county carries 558 qualified sales at this address across its full record.

Fourteen Years for Under Ten Per Cent

196 of the 248 homes — 79.0% — have a completed round trip on the county record. That is high coverage, and it makes what follows hard to dismiss as a small-sample effect.

Of those 196 round trips, 125 sold for more than the previous owner paid and 71 sold for less. None closed at an identical price. So 63.8% gained and 36.2% lost. The median gain across all 196 is 9.7%; among the 125 that gained it is 26.1%. The range runs from -57.3% to +94.1%.

The median hold is 13.9 years. Under ten per cent across fourteen years is the plainest way to describe this building’s record as a store of value, and it is not a good one. More than a third of documented resales here closed below their purchase price, one of them at little over 40% of it. A buyer should weigh that against the fact that Miami as a whole appreciated substantially over the same period.

None of that makes it a bad home. It does mean the case for buying here should rest on what the home is worth to live in, on this stretch of North Bayshore Drive, rather than on an expectation that the building will carry the purchase.

Who Cite on the Bay Suits, and Who It Does Not

It suits a buyer who wants a two-bedroom home in Edgewater at an entry point well below the newer towers around it, and who intends to live in it. The median assessed value is $336,056 and the median home is 1,067 square feet; the repeated floorplates — four plates covering 55 homes between them — give a real comparable set to price against.

It suits badly a buyer relying on appreciation. 36.2% of documented resales here lost money, and the median round trip returned 9.7% over 13.9 years. That is the building’s own record over a period when the surrounding market rose considerably, and I would rather a buyer knew it before making an offer than after.

It also suits badly anyone reading the 2026 numbers as a recovery. Seven sales, one of which set an all-time record, is not a trend, and the underlying rate per foot is still below where it stood in 2023 and 2024.

If you are selling: the top of this building’s range has held up better than its middle — the three highest recorded prices span 2023, 2025 and 2026 and sit within $25,000 of each other. If your home is one of the larger 1,400-plus sq ft plates, that is a genuine argument. If it is a mid-size home, price against the $415 to $461 recent band rather than the 2023 figure, and expect the sale to take time at one home in 25 turning over each year.

Cite on the Bay — Frequently Asked Questions

How many homes are in Cite on the Bay?

248. The Miami-Dade County Property Appraiser records 252 folios at 2000 N Bayshore Drive, of which 248 are residential dwellings and four are not; the four are excluded from every figure here.

Are prices rising or falling at Cite on the Bay?

The rate per square foot fell 17.3% between 2023 and 2025, from $502 to $415, across three consecutive years on 14, 11 and 8 sales — a well-supported decline. 2026 reads $461 on seven sales, which is higher than 2025 but not enough to confirm a recovery.

What is the highest price ever paid at Cite on the Bay?

$790,000, closed 5 April 2026, for a 1,427 sq ft home at $554 per square foot. The next two highest, $785,000 in February 2023 and $765,000 in November 2025, are within $25,000 of it.

Has Cite on the Bay been a good store of value?

On its own record, no. 196 of the 248 homes have a documented round trip: 125 sold for more than the previous owner paid and 71 sold for less. The median gain is 9.7% over a median hold of 13.9 years, and 36.2% of documented resales closed below their purchase price.

How often do homes sell at Cite on the Bay?

About one home in 25 each year, from 40 qualified sales across the last four years. The county carries 558 qualified sales at this address across its full record.

What size are the homes at Cite on the Bay?

721 to 1,475 square feet, median 1,067. The mix is 158 two-bedroom homes, 61 one-bedroom and 29 three-bedroom. 2026 assessed values range $117,981 to $702,900, median $336,056.

Why did the building set a record price in the same year its four-year prices were low?

Because only seven sales have closed in 2026 and one of them was a larger home at the top of the building’s range. The top of the range has been roughly stable across 2023, 2025 and 2026 while the middle of the market fell; a single high sale does not lift the rest.

Interested in selling in Cite on the Bay?

Learn more about selling your condo in Cite on the Bay with Josh Stein.

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Edgewater Condo & Loft Buildings

Edgewater runs along Biscayne Bay between the Venetian Causeway and the Julia Tuttle. Every building below is covered in this series, with its own county sales record:

• 1800 Biscayne Plaza
• 1800 Club
• Aria on the Bay
• Bay House
• Biscayne Beach
• Blue Condominium
• City 24
• Edgewater Lofts
• Elysee Miami
• Gallery Art Condominium
• Gran Paraiso
• Icon Bay
• Moon Bay
• New Wave
• One Paraiso
• Onyx on the Bay
• Opera Tower
• Paraiso Bay
• Paramount Bay
• Platinum Condo
• Quantum on the Bay
• The Crimson
• The Grand Condos Miami
• Uptown Lofts